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at 8:30, kim dixon on the payroll tax cut. william mcbride and seth hanlon on >> the president's been talking a lot about taxes lately. as a c.p.a. who practiced tax for years as a member of the wames there's no one who likes to talk about tax more than i do. but, let's be honest, talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. and furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, again the wrong direction. host: and that was the new g.o.p. conference secretary voicing her thoughts on the fiscal cliff negotiations yesterday. and we want you to address the issue of what the g.o.p. is raising, which is address the spending problem. 202 is the area code for our numbers. that's our question this morning in this first segment of the "washington journal." you can also contact us via social media and email. you can make a comment on our facebook page, and finally send us a tweet. here is the hill newspaper from this morning. g.o.p. forget tax rates in talks on the deficit
, reagan did hold up his end of the deal and went along to support the tax increases. however, it -- on their side of the equation and did not implement the spending cuts, and so, this also happens again under the elder george bush's presidency, so i have very little confidence in democratic leadership's willingness to stand by a pledge to cut any spending at all. host: thanks to all the calls this morning. the house of representatives is about to come into session. the chair lays before the house a communication from the speaker. the clerk: the speaker's room, washington, d.c., december 4, 2012. i hereby appoint the honorable gregg harper to act as speaker pro tempore on this day. signed, john a. boehner, speaker of the house of representatives. the speaker pro tempore: pursuant to the order of the house of january 17, 2012, the chair will now recognize members from lists submitted by the majority and minority leaders for morning hour debate . the chair will alternate recognition between the parties with each party limited to one hour and each member other than the majority a
capital gains rate in the a.m.t. is higher than the regular tax rates from incomes around $200,000 to $500,000. and that was the first broad expansion of the a.m.t., it began to hit an awful lot of people. then in 2001 they reduced regular tax rates but did not reduce a.m.t. tax rates. . for many people, the a.m.t. tax bill only changed the name of the tax i paid. i got little benefit from the rate ofin my opinion, the expand on tax has nothing to do with the action of indexing. it is the result of the conscious decision to hike the cost of tax reductions. >> the alternative minimum tax is 28%. if your tax rate was lowered to 25%. you still have to pay 28%. >> that is correct. for incomes between to london thousand dollars and $500,000, the effective tax rate is 35%. you hit the 35% rate and incomes fire lower than the income levels at which you would hit the 35% rate and regular tax. >> why do they call it a patch? >> it is a one time year by year patch to stop the broad expansion. you could ask why they call it a cliff. they have discussed this in terms of the patch. it is a
is a possibility we could come back in january and say we will reinstate those tax rates for everybody except those people making more than $250,000. host: we have about 30 seconds. the likelihood these credits will be reduced. guest: it will be a crapshoot. host: steven sloan from politico. thank you thank you. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2012] the prayer will be offered by our chaplain, father conroy. cap hehn conroy: let us pray. loving and gracious god, we give you thanks for giving us another day. help us this day to kragh closer to you so that with your spirit and your presence among us we all must face the tasks of this day. bless the members of the people's house. help them to think clearly, speak confidently and act courageously in the belief that all noble service is based upon patience, truth and love. you know well the pressing issues facing our nation. grant our leaders, especially, the wisdom to do what is best and may we all join in the common will for the benefit of all constitu
savings through the programs, address rising national expenditure. will have more to say on taxes, but we are ecstatic to have senator durbin here today who has played such a fundamental role over the last several years. been part of literally every negotiation that has taken place. he still an optimist, so i think that is a sign of progress. he has had a long history of being a champion and advocate for the middle class. he has carried that advocacy in the budget negotiations. part of the cu -- subcommittee, the gang of eight, became a six, almost every game that has been involved in these issues, and, but i think most importantly he has been a fighter for what's right and for having a plan that really stands true to the back of the american people and the people who voted and waited in line for hours, people who want a fair shake out of washington. and so, as a champion of that fair shake i'm excited to have senator durbin. [applause] >> neera, thank you very much for those kind words your elections as you say have consequences. politics is driven by a lot of things. candids that money
percents of americans to pay more in tax after having 12 years of a special tax break, which was only supposed to be temporary. if you say yes vote for me. mitt romney says, no, we are going to caudle, protect that top 2%. we are not going to raise their taxes. so if you say no, vote for me. that was a choice. the american people overwhelmingly, overwhelmingly, margin of 5 million, voted for president obama. john boehner is acting as if we never had an election in the first place and the election doesn't mean anything. is the senator has passed a tax break and john boehner is saying no, we will let 98% of americans pay $2,000 more in taxes. we will give a tax increase. we will raise taxes on 98% of americans unless you give us another tax break for our buddies and millionaires and billionaires, the top 2% in the country. you can't blame even mitch mcconnell any more. it's john boehner who is standing in the way. he did so again the republicans give this babble. the president says what's your plan? what do you want to cut? close loopholes. what loo
house deficit reduction package. later, nancy pelosi addresses the fiscal cliff and middle- class tax cuts. tomorrow on ", washington "" robert -- "washington journal," robert van order on the mortgage loan forgiveness. adult'eman on being an with autism. plus, your emails, phone calls, and tweets. >> c-span, created by cable companies and venture 1979, brought to you as a public service by >> president obama talked about the so-called fiscal cliff and his proposal to end the bush era tax cuts. he spoke at a manufacturing facility in hatfield, pennsylvania, for about 25 minutes. >> thank you! [cheers and applause] >> well, good morning, everybody. everybody, please have a seat, have a seat. relax for a second. it is good to see all of you. hello, hatfield! it is good to be back in pennsylvania and it is good to be right here at connects. i want to thank michael airington and the inventor of connects, joel glickman, for hosting me today. where'd they go? stand up so everybody can see you guys. there you go! i just noticed, we got a couple of outstanding members of congress here. chaka
. president obama with a big kind of pep rally at the white house to push those tax cuts for the middle class and republicans on capitol hill saying no, no, no, we hate the middle class. come on. let's give tax cuts to the rich! the millionaires and the billionaires, to the koch brothers and donald trump. we'll bring you up to date and give you a chance to sound off on the issues which i know you can't wait to do. you can do it by giving us a call at 1-866-55-press. you can join the conversation on twitter at bpshow on facebook, facebook.com/billpressshow. and if you really want to get into it with your fellow "full court pressers," go into the chat room. try it out. it is a lot of fun. go to current.com and click on the chat room and you are in! here we are. lucky day. thursday november 29 for somebody. >> it wasn't that lucky. you're still here. peter ogborn and dan henning good morning guys. leading team press with phil backert and cyprian bowlding. cyprian and i had our powerball tickets. we were ready, we were
. >> this is helping tax my own party headquarters and my own party members. i thank the executive to get to that. a recent attack on party colleagues and offices and constituency offices and staff threatened intimidation from loyalists, and if confirmed, all threats of political motivated violence will be triggered by republican attacks. >> discussing this for mr. david this morning, if it is unacceptable, all that staff were intimidated in any way comment and i know that the justice minister and i will continue to defend the ability of politicians in northern ireland to carry out their duties. >> questions for the prime minister? dr. julian lewis, number one, mr. speaker. >> before i answer my hon. friend's question i am sure the house will wish to join me in thanking the duke and duchess of cambridge on the wonderful news they are expecting their first child, the perfect piece of news to end and in court a -- extraordinary jubilee year. joining the question on afghanistan veteran global security from the al qaeda presence in afghanistan has been significantly reduced in large part the result o
is very important. we're trying not just to prevent a tax increase on 98% of americans, we're trying to go beyond that's going to be good for the long term american economy. >> but you said you're getting closer, they're saying you're getting much farther apart. they say that this is not a serious proposal. >> we have a very good plan. we have a very good mix of tax reforms that raise a modest amount of revenues on the wealthy 2% of americans. combined with very comprehensive, very detailed savings that get us back to the point where the debt is stable and favorable. if we can do that carefully, we can invest in things to make america stronger. we can rebuild infrastructure. we think those are good investments in america and we think we can afford them. >> let's look at an outline of what republicans said they heard in the meeting. $1.6 trillion in tax increases over the next ten years. $50 billion in stimulus spending right now. $400 billion in unspecified medicare cuts. over the next ten years. and then, permanent authority to increase the debt limit the president wants that authority. t
cost of living increases for social security benefits. they also propose overhauling the tax code to generate $800 billion in new revenue. but without raising taxes on the wealthy. in a letter to the president, leading republicans compared their plan to one erskine bowles drew up last year. >> not even close. >> he rejected that connection and the white house, of course, is hitting the road. we'll get to that in a moment. but here's my question. i've been watching the coverage of this and reading it. and there's a lot of liberals who were like, he won, ha, ha, they're so arrogant about it, it's hard to like them. because it's just not attractive. but he did -- >> yeah, he won. >> and he is going to the american people with this. and why can't the starting point of these negotiations be about the tax rates and go from there. why are we at square one? and why is this on the president at this point? since he won. i understand the first four years being kind of bruising. >> right. >> but -- at what point does he have the right to draw a line in the sand? >> so he has every right to dr
. and of course everyone, everyone deserves a $250,000 tax break. we all agree on that. so why not just simply adopt it and then come back and we'll have time to address the issues as it relates to bending the cost curve on health care and focusing on the vast inefficiencies, the fraud, the abuse and the waste that totals more than $750 billion annually? as for the chairman from my district said, list, it would be a way for us to bring down the deficit but also make health care affordable, accessible and functional for the american people. something i believe we must do. with that let me introduce the chair in waiting, javier becerra. >> mr. chairman, thank you very much. it's been a pleasure serving with you as our chairman of the caucus. december, how many families do you know that are sitting down right now trying to do some quick math on their finances and figure out how they can stay on their budget and have a little left over to buy gifts for the kids and for the loved ones so it will be a merry christmas, great holiday for all of america's families? they don't have any choice but to fig
like we are today with the defense authorization bill but also other critical issues, including tax issues and spending issues and that's what i wanted to address today. we -- we have a lot of challenges and instead of pulling together, we seem to be pulling apart. and i'm specifically referring to some of the suggestions by some in the majority that we consider controversial and partisan rule changes that would marginalize minority members and doing it in a way that breaks the current rules to change the rules. and what i mean by that is, it takes 67 votes to change a rule here in the united states sena senate. that's a rule, by the way, that dates back to 1917. and the reason that's in place is because obviously, you know, folks wanted to force the majority and the minority to work together to make those rule changes. you don't get a two-thirds vote without that. and i think that's important, that the basic rules are ones that are agreed on. we tend to change parties a lot around here. in fact, we've shifted back and forth between republicans and democrats seven times in the past
the right solution for solving our issues of middlele class tax cuts and the fiscal deadline and make sure we move in a very positive direction. with that i yield back my time. the speaker pro tempore: the gentlelady yields back. the gentleman from texas. the gentleman reserves. the gentleman from michigan. mr. conyers: mr. speaker, we have no further speakers. i am prepared to return the balance of our time. the speaker pro tempore: the gentleman. mr. smith: we have no further speakers on this side. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. the question is, will the house suspend the rules and pass bill h.r. 6620. so many as are in favor say aye. those opposed, no. in the opinion of the chair, 2/3 of those voting having responded in the affirmative, the rules are suspended, the bill is passed, and without objection the motion to reconsider is laid upon the table. for what purpose does the gentleman from texas seek recognition? mr. smith: mr. speaker, morph that the house suspend the rules and pass h.r. 6602, to make revisions in title 36, uni
. >> but will they actually cut taxes on the rich? not raise them, cut them. they wouldn't do that, will they? you are about to find out. >> republican goes after susan rice. >> absolutely it was wrong. >> here's what i can tell you. the american people got bad information on 15 september. >> some surprising opinions on that. stay right here for that, as well. then a movie about how we got bin laden but did they get classified information? that's a new controversy. >> you think you know the story but hold on to your seat. >> it's a huge controversy. an investigation was begun about you receiving classified material. >> who's guilty, who's innocent? we decide here on the "young turks." also, the man who created pulp fiction, kill bill, inglorious bass starteds on the set today. and republican on republican crime, elbow of the day. go time. [ ♪ theme ♪ ] >> cenk: david pluck is one of the to which advisers for president obama. he's talking about what they're going to do in regards to the grand bargain and he says some things that are very, very interesting, revealing exactly what we had feared was going o
be no deal to avert an economic plunge unless republicans agree to increase taxes on the wealthiest americans. good evening. i'm gwen ifill. >> woodruff: and i'm judy woodruff. on the newshour tonight, kwame holman has the latest on washington's impasse on taxes and spending. >> ifill: then we examine nato's decision to send patriot anti- missile systems to turkey, as fears grow that syrian chemical weapons could cross the border. >> woodruff: jeffrey brown talks to mcclatchy newspapers' egypt correspondent nancy youssef about the massive antigovernment protests in cairo today. >> ifill: we continue our series of conversations about the fiscal cliff. tonight we hear from economist paul krugman. >> i don't think there's going to be much of a deal. i think there's going to be a kind of... there will be an outcome. >> woodruff: from haiti, fred de sam lazaro reports on the efforts to stem a deadly cholera epidemic that began after the 2010 earthquake. >> ifill: and ray suarez talks to author and journalist tom ricks about what he describes as the decline of american military leadership. >> today
the deadlines that we're facing on jobs and taxes and investment. this is not some run of the mill debate. this isn't about which political party can come out on top in negotiations. we've got important decisions to make, and they'll have a real impact on businesses and families all across the country. our ultimate goal, our long-term goal is to get our long-term deficit under control in a way that is balanced and is fair. that would be good for businesses, for our economy, for future generations. i believe both parties can and will work together in the coming weeks to get that done. we know how that gets done. we're iffing to have to raise a little more revenue. we got to cut on the spending we don't need, building on the trillion dollars of spending cuts we've already made, and if we combine those two things, we can create a path where america is paying its bills while still being able to make investments and the things we need to grow like education and infrastructure. so we know how to do that, but in washington nothing is easy, so, you know, there's going to be some prolonged negotia
tax cuts hostage simply because they refuse to let the tax rates go up on the wealthiest americans. >> the republicans call this a bait and switch. >> alisyn: we'll debate. >> dave: one massachusetts town rolling out the welcome mat to long islanders for christmas tree lighting after the they refused to budge on the holiday event. the p.c. please. >> should you tip your garbage collector or how about your child's teacher? we have tips for tipping or the barista at starbucks. >> dave: no! sorry, ladies and gentlemen. >> "fox & friends" begins right now. ♪ >> are you supposed to tip the teacher. >> dave: some are, some are not. >> you want to err on the side of tipping and is it too much. do you tip the garbage man or the postal employee. you leave a bunt cake outside. >> alisyn: yes, money. they want money. >> dave: we'll get into it later, but it's tough because it used to be you tip someone for extraordinary service. >> alisyn: right. >> dave: now you just tip someone please. >> alisyn: so they don't egg your house, that's why you're tipping. >> and go to ff weekend and fire it
as the nation edged closer toward a so- called fiscal cliff that could raise taxes by year's end. we begin with a report from newshour congressional correspondent kwame holman. >> we're going to have to see the rates on the top two percent go up. we're not going to be able to get a deal without it. >> reporter: in his first interview since the election, president obama rejected a proposal from house speaker john boehner. he spoke on bloomberg television. >> unfortunately the speaker's proposal right now is still out of balance. i'm happy to entertain other ideas that the republicans may present. but we are not going to simply cut our way to prosperity or to cut our way out of this deficit problem that we have. we're going to need more revenues. in order to do that, that starts with higher rates for the folks at the top. >> reporter: the president did say today he would consider lowering rates again for the top two percent next year as part of a broader tax overhaul. the house republican plan envisions $2.2 trillion in deficit reductions over the next decade. $800 billion would come from ne
. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be we are focusing in on entitlements and spending cuts. the democrats and the republicans are presenting a united front saying no cuts to entitlement. no entitlement reform. the unions have an ad campaign saying don't touch entitlements. the president campaigner in chief saying the same thing. he put no entitlement reform front. a unified front on entitlements. bill: we did two hours of television yesterday. i saw a story that was as far apart from coming to agreement as is possible. do you see any give between these two sides? >> i saw a statement from senator dick durbin generally considered on the left of his party, he's saying, nobody should be so naive as to believe that just taxing the rich will solve our problems.
that calls for $1.6 trillion in new taxes, calls for a little, not even $400 billion in cuts and they want to have this extra spending that's actually greater than the amount they are willing to cut. it was not a serious proposal. right now, we are almost nowhere. >> oh, mr. boehner, you have got it all wrong. it is a serious proposal, really serious. godfather serious. >>> watching the d.c. drama convinced those of us in nerdland that president obama must be a fan of the francis ford copel la masterpiece. remove the lethal components and there are valuable negotiating lessons that the president seems to be picking up on, like this one. >> my father taught me many things here. he taught me in this room. he caught me keep your friends close but your enemies closer. >> well, president obama keeping his opponents close in hand. lunch with mitt romney. a mid-week summit with the business leaders that supported romney. the ceos of marriott, at&t and state farm. of course, meeting, after meeting, after meeting with speaker, john boehner and republican leaders. with this strategy, president obama
for a package that includes tax rate increases for the wealthy. not to be outdone speaker boehner announced that house republicans would be making similar appearances across the country, going to small businesses to speak about the "threat to jobs posed by congressional democrats" small business tax hike. while members of congress plan to take their case to the american people, the afl-cio is planning to take the american people to members of congress sending 33 local union leaders to capitol hill to push members of congress to let the bush tax cuts expire and leave social security untouched. one positive to emerge from negotiations so far has been that for the first time in recent memory, republicans have expressed an openness to increased revenues which means the choke hold grover norquist and his tax pledge held on republicans may be loosening. frank bruni thinks republicans devolved into dummies and nor west was their ventriloquist. not everyone saw norquist as the cause of the problem. defending him truth is that
, is on middle class taxes. and as i've said before, we've got two choices. if congress does nothing, every family in america ll see their tacks automatically go up at the beginning of next year. starting january 1st, every family in america will see their taxes go up. a typical middle class family of four would see its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying grocery, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle class families just can't afford that right now. by the way, businesses can't afford it either. yesterday i sat down with some small business owners who stressed this point. economists predict that if taxes go up on the middle class next year, consumers will spend nearly $200 billion lesson things like cars and clothes and furniture and that obviously means fewer customers, that cuts into business profits, that makes businesses less likely to invest and higher which means fewer jobs and that can drag our entire economy down. now
in the deadlocked talks to avert the so-called fiscal cliff, the devastating combinations of tax increase and spending cuts that kick in january 1st. both sides seem to dig in this morning on the sunday talk shows. >> the only thing standing in the way of that would be a refusal by republicans that the rates would have to go up on the wealthiest americans, and i don't really see them doing it. >> right now, i would say we're nowhere, period, we're nowhere. >> that somber assessment today from house speaker john boehner, as geithner, the point man, went on all five sunday talk shows, cnbc, washington correspondent aman javers joining me live now. did geithner offer anything new today? >> he really didn't. he thinks the republicans are bluffing here and they are not prepared to go all the way to the mat here on behalf of tax cuts for the rich. they think at the white house they've got their republicans backed into a political corner here, and they are really pressing their advantage hard. you saw this sort of breathtaking offer by the president of the united states last week when he offered
to talk about averting the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked ch
that is slated to close in january. this is after the partial tax failed. here is video of the fire district at work. they stated that they do not have the money in the budget. this means that they will have to slash the budget by closing four stations. they stated that they should save about $3 million by doing this. which ones will be closing? station for4, no. 11, no. 12, and no. 16 and lafayette. >> the contra costa fire district is huge and its services nine cities about 600,000 people who live in the area. they get about 41 about the calls a year from the district. so this is a huge deal. the meeting will be today at 1:30 p.m. in martinez. they're encouraging the public to come autumn voice their concerns to the supervisors and we are not sure how much this will do what they're asking people to come out and support them. >> just into kron 4 news room. police are on the scene of what they are calling a sophisticated pot growing operation in the south bay. at a home on the 13 block of sandalwood court in san jose. police got to the home just after 3 this morning after the received a call
spending her hard-earned tax dollars like water, running trillion-dollar deficits year after year. she's angry and she has every right to be angry. so what are we going to do about it? lately we've heard a lot of talk about raising revenues, but not nearly enough talk about bringing the federal government down to the right size, about matching spending to the resources we have, about balancing the federal budget. oh, we hear about a balanced approach, but that's just a way of saying we need to increase taxes. actually, we don't need to increase taxes. the best thing we could do would be to not increase taxes. the best thing we can do is to raise revenues by making our economy as healthy and strong as it can be. that means we need to help our businesses grow and hire. that's become way too hard to do in the past couple of years. a businessman in duchess county, new york, said he's going to have to limit the number of employees he has to less than 50 so he won't be subject to penalties under the 2010 health law. so right now the federal government is keeping him from offering jobs. that
this summer in july, i guess it was july 24, a tax cut for middle-class families, meaning we would continue the tax rates for those families. that kind of certainty is badly needed right now. so one of the best things that could rap right now is the house could vote and the president would sign into law legislation that would provide certainty for middle-class families. 98% of american families, and some 97% of small businesses. so it's time for the house to act. secondly, i think we have to take steps to make sure that we're creating jobs at a faster pace, as i mentioned before. i'm introducing legislation today to help middle-class families and -- middle noik families and to boost hiring. it would expand the payroll tax cut from last year for one year and give employers a tax credit for hiring. and i'll be talking about that legislation. now, the payroll cut that we -- tax cut that we put into place last year had a number of benefits. i won't go through all of those today but the joint economic committee, the committee of which i'm the chairman, just put out a report in the last 24 hours,
, the president today is urging congress to extend middle class tax cuts in his weekly address. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. >> the gop is also out today with new criticism of the president's plan. here's republican senator orrin hatch of utah. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending. and an unlimited, unchecked authority to borrow from the chinese. maybe i missed it, but i don't recall him asking for any of that during the presidential campaign. >> joining me now, white house reporter for the "washington post" david nakamara and congressional reporter for roll call, meredith shiner. good to see you. david i'll begin with you. with the president's proposal in part i
of the fiscal cliff negotiation. after that, joe shaw looks at the estate tax, which is set to go up the end of the year plus, your e-mails, phone calls, and tweets. "washington journal" is live at 7:00 a.m. eastern on c-span. now come in a discussion of how the military and national security might be a affected by spending cuts at the first of the year. part of the so-called fiscal cliff. former chairman of the joint chiefs of staff, mike mike mullen, was joined at how services committee. this is a less than an hour. >> good afternoon. thank you for coming. my name is peter peterson. i would like to give you a review of why we are supporting this project today. starting about 30 years ago, after studying the profound demographic trends, on the vast and unfunded promise we have made. i have decided was not unsustainable, but a primary threat to the future. speaking of unsustainable, in the nixon white house in which i served, the chairman of the council, if something is unsustainable, he says it continues to stop. or if you don't like that, if your worst eyes, i suggest that you does not dis
, but it was a nonstarter for the republicans. too many tax increases. now the republicans have sent over a deal and still no meeting of the minds. you guessed it, not enough tax increases. here we go again. the deal does offer up $600 billion in save frtion medicare reform and other spending cuts and it also suggests raising $800 billion in revenue through tax reform instead of increases, but it just will not budge on raising those taxes on the wealthiest 2% of americans. and that is why democrats aren't budging. >> we're glad to finally see republicans joining in the negotiating process instead of watching from the sidelines, but while their proposal may be serious, it's also a nonstarter. they know any agreement that raises taxes on the middle class to protect unnecessary giveaways to the top 2% is doomed from the start. it won't pass. democrats won't agree to it, president obama wouldn't sign such a bill, and the american people won't support it. >> so let's bring in dan lothian because he's at the white house where the president is just about now meeting with a group of state governors. we'll get to
will be able to reach a deal before the tax hikes and spending cuts kick in just 33 days. it is going to look bad for congress if they cannot get this done and some republicans are saying it's time to give in. politico's also reporting oklahoma representative tom cole told his g.o.p. colleagues yesterday to move forward with the president's he plan to extend the tax breaks for everyone except the top 2%. cole said that he does not agree with raising taxes for anyone but that it is time to take care of the majority of the american people first and fight for the wealthy later. that bill made it through the senate back in july but it still has not made it through the house. we're right back. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute
until the deadline which could potentially trigger $7 trillion in automatic spending cuts and tax increases. both republicans and democrats are at a standoff. they are each blaming the other side for holding up the process, but republican congressman terry lee says that by going over the cliff the president may have an ulterior motive. >> many of us fear that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do, and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now since the republicans let everyone's taxes go up, i'm going to ride in here now and be the -- the knight in shining armor and lower the taxes on the lower two brackets. >> it is a case that is sparking painful reminders of trayvon martin, another florida teenager shot to death in an incident that has racial overtones. i'm talking about jordan davis, the 17-year-old who will be buried today after a disagreement at a florida gas station ended
congressional leaders. they have only weeks now to head off a big tax increase for most americans. the income tax rates will jump automatically january 1. it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in
understood the banking system. he's not a budget guy. he's not a tax guy. he's never really worked in this sphere. >> geithner is leading these talks for two reasons. he and the president are very close. they simply click. secondly, boehner likes him. that's why geithner is the front man here. that sometimes matter more than anything else. on wednesday, the president brought back a campaign atmosphere. he surrounded himself with what he called average middle class families. it was all about ramping up political pressure on the republicans. >> if congress does nothing, every family in america will see their taxes automatically go up at the beginning of next year. >> the president had a busy fiscal cliff day, also met privately with the ceo ofs of home depot, coca-cola and yahoo!. not to be out done on this pr front, house republicans made it public, hosting a group of nervous business leaders. they've signed on to a campaign called fix the debt. they want big spending cuts to supplement the coming tax hikes. >> i'm hopeful but i wouldn't put me anywhere near the optimistic category.
are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new york. and they'll talk about that in detail. but before sandy ever hit the co
it again at the very end of last year, when the payroll tax cut was about to expire and the president was trying to get republicans to agree to extend it, the president again asked the american people, specifically, to sweet about what that tax rate meant to them. he asked them specifically to use the hash tag $40. >> we asked folks to tell us what would it be like to lose $40 out of your paycheck every week. i have to tell you that the response has been overwhelming. we haven't seen anything like this before. over 30,000 people have written insofar. as many as 2000 every hour. they should remind every single member of congress what's at stake in this debate. >> that was the end of last year. then, again, this year in september, the president used his weekly radio address to ask americans one more time to talk to congress. this time, it was about legislation to help struggling homeowners refinance. >> the truth is, it's going to take a while for our housing market to fully recover. it is going to take a lot more time and cause a lot more hurt if congress keeps standing in the way. if
the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester, and pave the way for tax reform and entitlement reform. we are the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. without spending cuts and entitlement reform, it will be impossible to address our country's debt crisis and get our economy going again and to create jobs. right now all eyes are on the white house. the country does not need a victory lap. it needs leadership. it is time for the president and congressional democrats to tell the american people what spending cuts they're willing to make. with that, i will take a few questions. [indiscernible] >> it has been very clear over the last year and a half. i have talked to the president about many of them. you can look at our budgets where we outlined specific proposals that we passed last year and the year before. we know what the menu is. we do not know what the white house is willing to do to get serious about solving our debt crisis. [indiscernible] >> i am not
. repeat, put everything on the tail, not just taxes and revenue, but spending cuts and entitlement reform. the only perfect law i know was carried down a mountain by senator moses. lou: what should be positive words for republicans tempered by the fact that senator durbin has no standing as the president's representative in the negotiation, and harry reid is telling a far different stories. john boehner and his caucus, the target, again, of senator reid's blame game. the senate majority leader insistent that republicans are the only onee in the way of the deal. reid asked point blank what the first thing would be, and he offered this curious answer. >> well, remember, we've already done more than a billion dollars worth of cuts. we've already done that. we need to get some credit for that and the negotiations that take place. lou: meanwhile, according to the white house, everything is not on the table, the table that a president is not scheduled to be seated at. carney confirmed that president obama will not find any extension of the bush tax cuts for the top 2% of the earners in the nati
news continues. fiscal cliff of tax increases and sharp spending cuts is now exactly one month away. in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson c
spending cuts but no tax rate increases. here is a picture of president barack obama answering questions on twitter about the fiscal cliff. he is promoting a reference to the estimated tax increase and middle income families would see if rates are not extended, the latest would extend tax cuts for everyone including americans and who the president wants to exclude. the white house says the proposal is too short on specifics. >> we can't guess what they are, they need to tell us and they look forward to the time when they are specific with the ways we have dealt with it. >> they don't like what republicans want to do to social security and more on that during my next update. reporting live, allison burns, ktvu channel 2 morning news. >>> 5:14 in florida, they have released a photo of george zimmerman, showing george zimmerman with a swollen nose and blood did i face. they responded and said it adds nothing new to the case. the volunteer watch man is charged with second-degree murder and his trial is due to begin next june. >>> contra costa police officer was taken to the hospital after an
and amazon of avoiding their taxes or minimizing them and not the right way. we'll have a live report. everything has to be just right. perfection is in the details. ♪ get to holiday fun faster with pillsbury cookie dough. five days later, i had a massive heart attack. bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. >>> welcome back, everyone. while washington bickers over the fiscal cliff and who's going to pay more in taxes, in great britain, lawmakers are telling some american companies it is time to start paying their fair share there in the uk. even throwing around terms such as shame, outrageous when talking about it. executives from google, amazon, and starbucks all appeared before a parliamentary committee looking into how international companies minimize the tax they pay in the uk. richard quest is in london to explain it all. now, richard, not necessarily talking about tax evasion here. it's more like avoidance, mini
a deal to avoid the so-called fiscal cliff. a huge package of tax hikes and spending cuts will kick in january one. they spent time blaming each other for not getting serious. in his weekly address, president obama says he is ready to make a deal but wouldn't accept continued tax cuts for the wealthiest people. >>> the senate has already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. and if we can just get a few house republicans on board, i'll sign this bill as soon as congress sends it my way. but, it is unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the richest americans. >> republicans say tax hikes on the wealthy mean tax hikes for small businesses, something they insist they cannot accept. here is long-time gop senator orin hatch. >> unfortunately, some on the other side of the aisle are indicating a disastrous thelma and louise idea, that will put us in jeopardy, for small business and other parts of the e
with the following belief. the only way to get it in order is through rapid economic growth. no taxes you can raise to bring the debt down. what the president is offering is not enough but will make a dent on job creation, particularly middle-class job creation. i oppose his plan. we should do real tax reform. if there are loopholes, there is a loophole for being able to write off your yacht as a second home. let's go after that. we need more revenue and the way you do that is through rapid economic growth. it's the only way to generate the kind of revenue you need and hold it. >> what's the only way you would raise tax rates on the top 2%? >> the number one issue is to grow the economy and creating jobs. i believe that proposal will hurt job creation. the tru millionaires, they have the best accountants and lawyers in america. do whatever you want, they are go to go maximize it. the people who get crushed, the small s corporation who can't afford to do this in the tax code and ends up getting creamed. they have to get the money from somewhere. though can lay off workers, and none of those things a
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